Western Investment Company Announces Declaration of Annual Dividend

High River, Alberta--(Newsfile Corp. - August 16, 2023) - The Western Investment Company of Canada Limited (TSXV: WI) ("WICC" or "Western") announced today that its Board of Directors declared a dividend of $0.005 per share on WICC's outstanding common shares ("Common Shares") as part of Western's annual dividend program. The dividend will be payable on September 29, 2023, to shareholders of record at the close of business on September 15, 2023. This dividend equates to an annual yield of 1.32% based on the closing price of the Common Shares earlier today. The dividend will be designated as "eligible" under the Income Tax Act (Canada).

About The Western Investment Company of Canada Limited

Western is a unique publicly traded, private equity company founded by a group of successful Western Canadian businesspeople, and dedicated to building and maintaining ownership in successful Western Canadian companies, and helping them to grow. Western's shares are traded on the TSX Venture Exchange under the symbol WI.

For more information on Western, please visit its website at www.winv.ca.

CONTACT INFORMATION - The Western Investment Company of Canada Limited

Scott Tannas President and Chief Executive Officer (403) 652-2663 stannas@winv.ca

Advisory

This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the timing of the dividend and whether a dividend is declared annually. Statements containing the words: 'believes', 'intends', 'expects', 'plans', 'seeks' and 'anticipates' and any other words of similar meaning are forward-looking. All statements included herein involve various risks and uncertainties because they relate to future events and circumstances beyond Western's control. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Western's disclosure documents on the SEDAR website at www.sedar.com. Any forward-looking statements are made as of the date of this news release and Western does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177535